Solana Price Rally Fueled by Record Futures Activity

Solana (SOL) has surged nearly 30% over the past month, powered by a sharp increase in trading activity and investor confidence. Data from Glassnode shows Solana’s futures open interest has climbed over 300% since August, hitting a record $8.17 billion. This surge indicates a flood of new capital entering the market, signaling strong speculative demand and growing conviction that SOL could push higher.

Futures open interest tracks the total value of unsettled contracts, and when it rises alongside price, it reflects bullish positioning. Traders appear confident that SOL’s rally has momentum, with some analysts projecting a move toward the $250 level. Supporting this outlook, Coinglass data highlights a major liquidity cluster near $226. If Solana’s price approaches this zone, short liquidations could trigger additional buying pressure, driving the token closer to $244–$252.

Technical indicators further strengthen the bullish case. On the daily chart, SOL’s Relative Strength Index (RSI) sits around 63, signaling steady demand while leaving room for more upside before reaching overbought territory. A sustained push could see the token break resistance at $244.70, opening the door for a run to $252.23.

However, risks remain. If buying momentum fades, SOL could retrace below $218 and test support at $195. Still, with open interest soaring and liquidity pockets forming above current levels, market dynamics currently favor bulls.

As Solana’s network continues to gain adoption and trading activity accelerates, its price outlook remains strong. While volatility is expected, traders are closely watching whether demand can propel SOL toward the $250 mark in the near term.